SVB Wealth LLC Makes New $201,000 Investment in Western Digital Corporation $WDC

SVB Wealth LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 742 shares of the data storage provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also made changes to their positions in WDC. Norges Bank acquired a new stake in Western Digital in the fourth quarter worth approximately $788,729,000. Northern Trust Corp raised its stake in shares of Western Digital by 11.2% in the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after buying an additional 384,103 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Western Digital by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock worth $456,737,000 after buying an additional 402,981 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Western Digital by 4,923.9% in the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock valued at $409,049,000 after buying an additional 3,339,225 shares during the period. Finally, Soroban Capital Partners LP lifted its holdings in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after buying an additional 2,910,062 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on WDC. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective for the company in a research report on Tuesday, March 31st. Wells Fargo & Company lifted their price objective on shares of Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Morgan Stanley boosted their target price on shares of Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Finally, Fox Advisors lowered shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $450.46.

Insider Activity

In related news, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the sale, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,322 shares of company stock worth $12,768,550 over the last three months. 0.18% of the stock is owned by insiders.

Western Digital Stock Up 4.9%

Shares of NASDAQ WDC opened at $675.39 on Friday. Western Digital Corporation has a 12 month low of $62.53 and a 12 month high of $799.87. The company has a market cap of $232.79 billion, a price-to-earnings ratio of 40.32 and a beta of 2.13. The business has a fifty day simple moving average of $513.57 and a 200-day simple moving average of $342.93.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the business posted $1.36 EPS. Western Digital’s revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts expect that Western Digital Corporation will post 9.58 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were issued a dividend of $0.15 per share. This is an increase from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

Key Western Digital News

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
• Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’
• Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here’s Why Western Digital (WDC) Is a Great ‘Buy the Bottom’ Stock Now

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.